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Price Change$824,900

538 Mutual Street

3503 - Castle Heights, Overbrook - Castleheights and Area

$749,900

Detached|3-Storey
3 | 3 | 10
About this home

Exceptional development opportunity in the heart of Castle Heights. Situated on a 60' x 111' lot and currently improved with a tenanted triplex providing holding income, this property offers compelling future redevelopment potential. A substantial rear concrete block building with high ceilings-larger than the existing residential structure-creates a rare opportunity for adaptive reuse or future development, subject to buyer due diligence and required approvals. Zoned N4B (buyer to verify), the property may support a variety of residential development concepts under Ottawa's evolving zoning framework. Located in a neighbourhood experiencing significant reinvestment and infill activity, this is an outstanding opportunity for builders, developers, and investors seeking both current income and long-term upside. AI renderings included for illustration purposes only. Buyers are advised to verify zoning, permitted uses, development potential, and all approvals required for their intended use.

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Contact BrokerHub Inc..

BrokerHub Inc.
(647) 254-1864
TypeDetached
Style3-Storey
Approx. AgeNot available
Size2500-3000 sq. ft.
Property Tax$5,546
Lot Size60 ft x 112 ft
mls© NumberX13246548
Listed ByRE/MAX DELTA REALTY TEAM

Listing History

  • No recent sale history for this listing.
  • No recent lease history for this listing.

Could you afford this home?

What the bank counts

This home's actual carrying costs, payment stress-tested at 6%

Mortgage, tested at 6%
$3,838
Property tax
$462
Heat allowance
$150
Housing costs
$4,451 / mo

Lenders cap these at 39% of gross income — that sets the number.

Down payment20% · $149,980
25-yr amortization

Income needed

$137,000

gross annual household income

Payment at 4%
$3,156 / mo
Cash down
$149,980

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

Estimated rent, cap rate and monthly cash flow for this property

Values and trends

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